SEC yet to take action against cos for failing to reconstitute boards

The Securities and Exchange Commission (SEC) is yet to take any decision on the low-rated Z-category companies despite expiry of the time given for recasting their respective board of directors on June 3.Only four of the 98 Z-category companies complied...

Rate of surgeries higher in affluent nations

NEW YORK, June 25: A WHO study conducted in one-fourth of the 192 member states revealed that over 234 million surgical procedures are undertaken world wide each year. But the rate of surgeries is higher in affluent nations than poor...

Workers of the world on the move

From Filipino electricians in western Australia and Indian petrochemical engineers working in the Persian Gulf, to Latvian stone masons in Northern Ireland, the world's labour force is on the move.Globalisation means that not only are companies are moving operations offshore...

India: Childhood up in smoke

IT is scorcher of a day at Gudiyatham village in Vellore. The children are gathered under a huge tree for a game but their sudden silence tugs at the heart. It appears they can't forget the trauma they went through...

S Africa on a tightrope as key rate rises to five-year high

SOUTH Africa's central bank has raised its benchmark interest rate by 50 basis points to a five-year high of 12 per cent, in an attempt to prevent rising food and oil prices spilling into wage increases and other areas of...

The double standard

Finance and Planning Adviser Mirza Azizul Islam did not make any attempt to hide his annoyance at the delay in public procurement and implementation of projects co-financed by donors who have their own procurement rules.Dr. Azizul Islam, speaking at workshop...

Gulf group gets approval for $32m tourism project

The government has approved the proposal of a leading Gulf business group for construction of a luxury hotel cum tourist zone worth $32.189 million in Sylhet."We have given permission to Rakeen Development Company BD Private Ltd to implement its investment...

Central bank to suspend two monetary tools from July 1

Bangladesh Bank will suspend issuing two monetary tools at the beginning of fiscal 2008-09 to avoid overlapping in transaction of almost similar debt instruments, officials said.There will no issuance of 28-day government treasury bill and 91-day Bangladesh Bank bill from...

Towards a better govt-business rapport

AT a recent post-budget discussion at the National Press Club attended by the business leaders with the finance adviser as the chief guest, some very important and at the same time sensitive issues came up. The main point of contention,...

Iraq oil deals provoke sharp int'l reactions

NEW YORK, June 24: The opposition to Iraq awarding no-bid contracts to four American oil companies namely Exxon-Mobi, Shell, Total and BP is growing in the US as well. The deal has provoked sharp international reactions. The companies from other...

Bumper boro harvest is not enough

TRADITIONAL agriculture, centring mainly on the production of food grains, has served a purpose, no doubt, in feeding the growing population of Bangladesh. But this singular emphasis on food grain production is also costing the country dear in different ways....

Government move: What do we make of it?

WEEK ending on June 12 last was eventful in that it featured the much talked about release of Sk. Hasina. It did, albeit for a short while, capture the attention of those who distance themselves from politics. The press was...

BGMEA to set up two more training centres to groom skilled manpower

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is going to initiate two more technical training centres (TTCs) under a Char Livelihood Project (CLP) from July 16 to meet the increasing demand for skilled manpower in the apparel sector.'We are going...

Tax-free income ceiling may be fixed at Tk 165,000

The government is likely to increase the tax-free income ceiling to Tk 165,000 for upcoming fiscal from the existing Tk 150,000, a finance ministry source said.For female taxpayers and senior citizens above 70, the government might raise the tax-free income...

Bloomberg News faces challenges from Thomson-Reuter deal

NEW YORK, June 24: Is anyone familiar with the name of Thomson Corporation in Bangladesh? Very few one would suspect. It is a information giant that rarely caught the imagination of the media. It is now in news for two...

Food Procurement policy

FINANCE Adviser has announced in his budget speech that 3.2 million (32 lakh) metric tonnes of foodgrains will be procured during the next financial year. This will include domestic procurement, food aid and imports from abroad. As against this, food...

NBR simplifies VAT payment procedures of some professionals, service providers

The government has simplified procedures of VAT payment by specialised physicians, law advisers, immigration advisers, coaching centres, English medium schools, and private medical and engineering colleges.Following complaints of these professionals and service providers on complex system of VAT payment, the...

The Fed, the dollar and wider price concerns

BEN Bernanke, Federal Reserve chairman, produced a brief dollar rally by expressing concern that a falling exchange rate could bolster inflation. Mr Bernanke is correct to be concerned about a weak dollar because it is part of a larger pattern...

Of rice price, statistics and subsidy

There has been a sort of euphoria among the official circle about Boro rice production this year. But that seems to be fading fast as the rice prices have gone back to their previous highs within a month from the...

Inflation and protests create economic storm

Reviving South Korea's economy was Lee Myung-bak's number one priority when he became president in February.But surging oil prices, spiralling inflation, sagging export demand and anaemic foreign investment have coincided with anti-government demonstrations and a series of strikes to create...

Better Business Forum sits today with CA

The government's apex forum on building better business atmosphere sits today (Monday) to discuss the entire gamut of the country's trade, commerce and investment activities after budget proposal for the next fiscal year, a senior official said Sunday.He said a...

Inflation causing the greatest concern in India

IN Mumbai, India, it is common to see convoys of up to 20 cars bristling with armed police ferrying high-ranking officials through the chaotic traffic, blocking off other motorists and making the city's gridlocked roads even worse.In the past few...

How to find ideas for challenging times

What tools does a fledgling business have to cope with challenging times?Well, one of the great merits of emerging companies is that they are flexible and willing to try new ways of doing things: new products, new services, new ways...

ICB Islami Bank share trading starts tomorrow as SEC ban goes

Share trading of the ICB Islami Bank Limited, formerly known as Oriental Bank, will resume tomorrow (Tuesday) after a gap of 24 months and three days as the securities regulator lifted the trade suspension order Sunday.On the other hand, share...

NBR revises upward tariff value of LPG

The government has revised the tariff value of liquefied petroleum gas (LPG) and fixed the same at Tk 50 for 12.50 kg cylinder and Tk 30 for 5.50 kg cylinder.Earlier the tariff for a 12.50 kg cylinder was Tk 40...

IMF forecasts US recession to affect globally

The biennial World Economic Outlook report issued recently by The International Monetary Fund (IMF) forecasts a US recession that will pull the global economy down with it.The report, issued before the spring meetings in Washington of the IMF and World...

Saudis give details of overseas crops plan

SAUDI Arabia has outlined its plans to develop large-scale overseas agricultural projects to secure food supplies, revealing that Riyadh is in discussions with Ukraine, Pakistan, Sudan, Turkey and Egypt.Abdullah al-Obaid, the deputy agriculture minister, told the Financial Times the government...

Fellowship news

To promote international scientific cooperation, the Japan Society for the Promotion of Science encourages highly qualified researchers from the worldover to come to and conduct joint research activities with colleagues at Japanese universities and research institutes.During the 2002 fiscal year,...

Seven more turning points in tech history

Reading e-mail on the Web is annoying; that was Microsoft's judgment in 2000, back when the Web was a page-based medium. Each HTTP request meant a round trip to the server that refreshed the entire page, which was no good...

news digest

its Cuba sanctionsWASHINGTON, June 21: The United States Friday downplayed the European Union's decision to lift its sanctions on Cuba, even after a White House official a day earlier called it disappointing. "The US and the European Union share common...